Spot market pricing for US domestic and import API X-52 line pipe continues to hold in the range of $50.00-$52.50 cwt. ($1,102-$1,157/mt or $1,000-$1,050/nt), ex-mill, although deals below that range are available from some domestic producers.
“Everyone was so focused on Making America Great Again, that they weren’t paying attention to anything else. The mills ramped up shifts, brought back workers and no one paid attention to demand,” a source said. “At this point they’re just rolling pipe for stock.”
Another source agreed, adding that in some cases, mills have started to compete with service centers to get to the end users.
“In some cases, the mills are offering the same prices we are, just to try to get the business,” the source said. “The entire market is on its head and it’s hard to make money in this environment.”